Dragonair signs financing agreement for two A321s

Dragonair today signed a US$100-million financing agreement with Bank of China (Hong Kong) for two new Airbus A321 aircraft that will join the fleet in November and December respectively this year.

"With the SARS outbreak contained it is time for Dragonair to consolidate and look forward," said Chief Executive Officer Stanley Hui.

"The outbreak has pushed back the delivery date of the two aircraft from this summer to the end of the year, but today's announcement shows we are eager to get our fleet-expansion programme and growth strategy plans back on track."

The new, purchased A321s will be powered by two V2500-A5 engines from IAE, and feature a single-aisle, twin-class cabin with seating capacity for 24 passengers in Business Class and 148 in Economy Class. The aircraft will also feature Dragonair's new interior cabin design, part of a wide-ranging redesign and service enhancement project launched in January this year.

"Bank of China (Hong Kong) provided financing to Dragonair for the acquisition of one A330 aircraft in May 2001 and one A330 aircraft in December 2002, so this is the third financing deal we have had with the bank," said Dragonair's Chief Financial Officer, Francis Wai.